What brands need to know about the mass affluent

Across the region, almost eight out of ten affluentials, an audience sought-after by the finance and luxury sector, are active users of Twitter, according to a new research from market research firm Ipsos Hong Kong.The survey classified mass affluential respondents as those who were in the top 20% of their country's income distribution, aged between 25 and 64 years old.The research, surveyed 1,750 respondents across India, Indonesia, Singapore, and Saudi Arabia."The center of economic power is moving to Asia Pacific. A survey said by 2030, 65% of the global middle class would be in APAC; the number currently stands at 28%. For businesses it is critical to have a deep understanding of this segment, backed with data," Parminder Singh (pictured), managing director for Twitter SEA, India & MENA, said.There were 4 types of affluent identified as part of the study.Astute influencers - they are informative and wheel a lot of influence using that information. Around 86% of them want to stay ahead using social media. They want to get information related to finance.Focused achievers- this group is heavily into self-development and wants to connect with people on social media to learn more. They have a growth/learning mindset.Socially aware - are people who use social media for causes greater than their own good. They want to help others.Quality evangelists- they are there to help evangelize other people/brands. They are highly likely to recommend a brand.Overall, in Singapore, 8 out of 10 (78%) of the Mass Affluent surveyed use Twitter on a regular basis, with 46% of existing users planning to use the platform more going forward.The study, commissioned by Twitter, aims to help marketers gain a better understanding of affluentials' personal values, attitudes, and outlook on life, as well as their digital and social media habits.It found that affluentials like to be better informed (79%), believe life is about having great experiences (81%) and being able to help in the community (70%).Those who use Twitter are twice as likely to be the first to use new tech products, will spend 2.3 times more on luxury goods/services in the future, and are 1.5 times more likely to recommend new products.Here are some tips marketers could use when trying to engage the mass affluent:1. Understand their content needsFinancial advice is one of the content priorities for affluentials. More than 40% of them expect to see content related to short- and long-term management of their personal finances, from wealth accumulation to succession.2. Connect with their interestsOver 40% of affluentials search for things they are interested in, such as how to stay healthy, and money-saving tips. When it comes to making a purchase, 50% are looking out for promotions or discounts.3. Better customer serviceOver 50% expect personalised technical support, updates on purchase statuses, and answers to product-specific questions. Moreover, according to Twitter's Customer Service playbook, customer service is 30% more important to consumers than the brand, and 52% more important than 'value' for money in driving satisfaction.Take a look at the results here:"Twitter is constantly on the lookout for ways to help marketers be successful. The new research focused on mass affluent highlights the motivations and preferences of this audience who appreciate quality and the customer service they receive," Singh said, adding that Twitter seeks to support brands that want to explore, develop and nurture their relationships with these affluentials.